Tag Archives: Philip Hammond

Winning Post: Changing perceptions of animal betting sports

In play - Copyright: gabe123 / 123RF Stock Photo

Regulus Partners, the strategic consultancy focused on international gambling and related industries, takes a look at some key developments for the gambling industry in its ‘Winning Post’ column. US: Florida greyhounds – dog days are over Florida, home to the oldest continually operated dog track in the world (and one of the largest) has banned wagering on greyhound races in …

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Sports Minister Tracey Crouch says bye to DCMS over FOBTs delay

Crouch

UK Sports Minister Tracey Crouch has resigned from the Department for Digital, Culture, Media & Sports (DCMS), in relation to the government’s delay in implementing its £2 FOBTs stake reduction. Crouch had served as Sports Minister since 2015, leading the government’s relations with the UK betting and gambling sectors. Monday’s 2018 Budget announcement saw the Treasury confirm that it would implement …

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No Favours expected as UK gambling prepares for its new Tax reality

The UK government has released its policy paper supporting the 2018 Budget, detailing the Treasury’s fiscal planning, monetary policies and industry/commercial duties. The update confirms that the government will implement its long-awaited FOBTs £2 stake reduction from October 2019, a directive that will cost the Treasury £270 million in lost tax revenues by 2023/24. Making up for tax shortfall, the …

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“You might as well shout at the moon” – Hammond set to issue RGD hike

Next Week (Monday 29 October) will see all the debate come to an end as Chancellor Philip Hammond delivers the UK Budget 2018, with industry expectations firmly set to see a significant remote gaming duty (RGD) increase. Representing the third online gambling tax constraint imposed by the government since 2014, following point-of-consumption (POC-2014) and Industry Free-Play taxes (2016), 20 and …

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UK Treasury mulls delaying FOBTs cut to October 2019

The Guardian newspaper has this morning reported that the UK government is set to delay implementing its mandatory £2 cut on FOBTs stakes until October 2019. Since the Department for Digital, Media, Culture & Sport (DCMS) confirmation that FOBTs machine wagering would be drastically reduced from £100 to £2, the UK government has faced mounting criticism for delaying its directive. Cross-party consensus …

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Waiting Game… Unsure Hammond delays industry FOBTs judgement

UK news sources have this morning, reported that the government will delay once more it’s pending triennial review judgement on industry FOBTs wagering and advertising standards. Parliament insiders have detailed that UK Chancellor Phillip Hammond, has put the government’s decision ‘on hold’, with the judgement to be made following the conclusion of England’s local council elections on 3 May. According …

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Paddy Power – Philip Hammond’s ‘bantz budget’ sees Chancellor odds-on to be cut in 2018

UK Chancellor of the Exchequer Philip Hammond was full of banter and punch-lines as he delivered Wednesday’s Autumn Budget, but Paddy Power Politics details that it could be ‘Spreadsheet Phil that becomes a laughing stock in the aftermath of his speech’. The early Budget criticism is already enough for Paddy Power to make it odds-on for the Tory government to replace Hammond …

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Thanks Philip! No betting industry tax hike but industry faces tough 2018 context

The UK betting industry breathes a sigh of relief, as Chancellor of the Exchequer Philip Hammond has detailed no industry tax hike for the governments annual budget. Prior to yesterday’s budget presentation, a number of industry stakeholders had outlined concerns regarding further taxes being demanded from the UK betting sector. At Lunchtime, Hammond would present Commons a budget ‘designed to …

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Ladbrokes Politics offers the Buzz on Hammond’s budget

Ahead of the tomorrow’s National Budget presented by UK Chancellor of the Exchequer Philip Hammond, Ladbrokes Politics has launched its ‘Buzzword Bingo’ market. On Wednesday lunchtime, the UK prepares for the Chancellor’s annual speech at Commons, with Ladbrokes pricing up its special ‘Exchequer Budget Buzzword Bingo’ market, in which the bookmaker details that ‘Brexit’ at 1/3 will be the most …

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Gaming machine stakes reduction blocked by Treasury – reports

British bookmakers received good news this weekend when a source close to Whitehall told the Daily Mail that the Chancellor of the Exchequer, Philip Hammond, would halt the ongoing review into B2 Gaming Machines, more commonly known as fixed odds betting terminals (FOBTs). Having previously been delayed because of the snap election, the long awaited review of gaming machine stakes …

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